Lindner Carl H III Maintains 8.6% Stake in American Financial Group, Inc. (AFG)

Lindner Carl H III

revealed that they own 8.6% of American Financial Group, Inc. (NYSE:AFG) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, June 13th. The investor owns 7,595,209 shares of the stock valued at approximately $762,938,744. The disclosure is available through Edgar at this link.

Lindner Carl H III

provided the following explanation of their ownership:

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Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in shares of American Financial Group by 36.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,363 shares of the insurance provider’s stock valued at $649,000 after buying an additional 1,959 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of American Financial Group during the fourth quarter valued at about $361,000. Employees Retirement System of Texas purchased a new position in shares of American Financial Group during the fourth quarter valued at about $1,851,000. Pacad Investment Ltd. purchased a new position in shares of American Financial Group during the fourth quarter valued at about $255,000. Finally, Credit Agricole S A purchased a new position in shares of American Financial Group during the fourth quarter valued at about $123,000. Institutional investors own 61.84% of the company’s stock.

Institutional Ownership by Quarter for American Financial Group (NYSE:AFG)

American Financial Group (NYSE:AFG) last announced its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.32. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.14 billion. American Financial Group had a return on equity of 11.11% and a net margin of 10.62%. American Financial Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS.

The firm also recently disclosed a special dividend, which was paid on Thursday, May 25th. Shareholders of record on Monday, May 15th were given a $1.50 dividend. This represents a yield of 1.27%. The ex-dividend date was Thursday, May 11th. This is an increase from American Financial Group’s previous special dividend of $1.00. American Financial Group’s dividend payout ratio is 15.82%.

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Separately, Zacks Investment Research cut shares of American Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $92.00.

In related news, insider John B. Berding sold 27,999 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $97.95, for a total transaction of $2,742,502.05. Following the completion of the sale, the insider now directly owns 61,143 shares in the company, valued at approximately $5,988,956.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO S Craig Lindner sold 26,475 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $99.46, for a total value of $2,633,203.50. The disclosure for this sale can be found here. Insiders sold a total of 258,946 shares of company stock worth $25,597,516 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.

American Financial Group Company Profile

American Financial Group, Inc (AFG) is a holding company engaged primarily in property and casualty insurance businesses. The Company, through Great American Insurance Group, focuses on commercial products for businesses, and is engaged in the sale of fixed and fixed-indexed annuities in the retail, financial institutions and education markets.

Want to see what other hedge funds are holding AFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Financial Group, Inc. (NYSE:AFG).

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